What Is the Significance of Statutory Deductible in General Damages?

If you are injured in a traffic accident, you can file a personal injury claim in order to get amends for pain, injuries, suffering and other damages. These types of amends are called general damage.

What Is Deductible?

When the insurance policyholder pays a certain amount of money, then it is called the deductible. For example, if your car is damaged worth $1000 and you pay $500 to the insurance policy already, then the insurance provider has to provide $500 to repair the vehicle.

Statutory Deductible

Statutory deductible works almost the same way. If you face general damage worth $100,000, then you will get compensated worth $60,245.69. But if the Statutory deductible is below $39,754.31, they will get nothing! Keep in mind that statutory deductible is only applied when the worth of general damage is no more than $132,513.28. You can ask your personal injury lawyer to understand better about Statutory deductible.

The Problematic Issue Regarding Statutory Deductible

According to research, the imbalance between general damages and Statutory Deductible has increased. The cost of amends is not increasing and the benefits of traffic accidents have reduced in the last few years.

As reported by an Oklahoma personal injury lawyer, the statutory deductible has increased continuously while the benefits of motor vehicle accidents have decreased. They have also noticed that statutory deductibles discourage people to take civil action over minor injuries.

Keep in mind that the insurers who protect the driver in this case, they have the right to challenge the lawsuit and check so that only the legal personal injury claims are paid out. They have to review the personal injury claim paperwork, hire lawyers, question the plaintiff, and doctors to complete the process. The insurance company has the right to get a judge for deciding the accurate cost of the damages. The statutory deductible is implemented to protect the rich insurer, driver and deprive the innocent victim.

Book an Appointment ASAP

If you are a victim of a traffic accident, don’t know what to do and how to get amends, then consult with a specialist personal injury lawyer of Foshee and Yaffee Attorneys at Law. They will help you in various cases such as brain injuries, car accidents, amputation & disfigurement injuries, medical malpractice, motorcycle wrecks, truck wrecks, distracted drivers and many more in OKC.

**Disclaimer: This content is not to be construed as legal advice nor does it establish terms of a client-attorney relationship.